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Lies

Lies

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Published by Omkar Bapat

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Published by: Omkar Bapat on Aug 31, 2012
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10/10/2013

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LIES B SCHOOLS TELL YOU1. You will be rich. My experience (and from talking to others) is that it willtake you 2 or 3 times as long as you think it will take to succeed after Business School. So take it easy running up your student loans and credit card debts expecting you
re going to be a rock star later.2. You are smarter than people without an MBA. You were smart enough to get in to Business School. That doesn
t mean you are smarter than other people without anMBA. Stay humble.3. There
s always a right answer. B-School students are usually very analytical and achievement-oriented. They like to think there
s always a
best
answer. There
s not.The perfect answer is always the enemy of the good enough one. You make decisions you can with the best information available. Life and business today doesn
tlet you count how many angels can fit on the head of a pin.4. If you
ve made it this far (to B-School), you
re destined to succeed. In my B-School, there were always amazingly talented executives coming in to give talks onbusiness and life. They
d always compliment us on what a great school we attendedand why we had our future by the tail. It made us all feel invincible
destinedto succeed once we set out on our various career paths. It doesn
t work that way.I know B-School classmates who
ve failed miserably, under-achieved, gotten divorced, gotten severely depressed, etc. B-School is a great educational opportunityin life, but you still have to go out there and succeed. Nothing is given to you as a birthright.5. You know how to
fix
the first few companies you join after school. You
ve probably worked at companies were people who
ve been there for 2 decades roll their eyestelling you about the new hotshot MBA who just started and is now telling everyone how to do their jobs. It
s so clear to him, yet others find it deeply offensive that he would think he knows how the company works when they
ve spent countlessyears there and are still trying to figure it out. All hotshot MBAs should weartape over their mouths for the first 3 months on the job and not be allowed to
fix
anything.6. Discounted Cash Flow (DCF) will always tell you what a company is worth. MBAslove DCF. They think the true answer to what a company is worth is always a DCFaway. Just crank it out on a spreadsheet or whiteboard, show the boss, and move on to the next problem. Unless you
re going to be a sell-side analyst, you
ll never do a DCF after B-School. And even the sell-side analysts get their underlings to do them. And no one reading your reports will read them anyway.7. The
soft
courses (leadership and people management) are least important. I remember talking to the professors from the Management Department at my school who had to teach the courses on leadership and people management. They used to lament that the MBAs never paid attention to them in class. Yet, the Executive MBAs(usually in their 40s or 50s) always told them that these courses were the mostimportant of all the B-School classes they took. You learn after B-School thatthe perfect answer or strategy means nothing if you can
t get people around you tobuy in to it and help you achieve it. To do that, you need to motivate them, listen to them, connect with them, and support them when they need it.8. You are going to be more creative and entrepreneurial after Business School than before. In my experience, B-School makes you less creative, the longer you
rein it. They teach courses on entrepreneurship but it
s kind of an oxymoron the idea of the analysis paralysis B-School Students being entrepreneurial. You willlearn a lot of tools and frameworks in B-School, but you won
t learn how to starta company. You just need to start a company.

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